The rapid advancement of artificial intelligence (AI) has set the stage for a new economic “gold rush.” According to Ivan Feinseth, senior partner and CIO at Tigress Financial, every company will soon be compelled to adopt AI to track customer behavior, optimize supply chains, and enhance business and employee efficiency.
Feinseth likened the impending AI revolution to the earlier gold rushes for automation, electronics, home computing, and the internet. This comparison underscores the magnitude of the AI wave that is about to sweep the corporate landscape.
Also Read: Forget The Magnificent 7: Did Anyone Back These 1,000% Gainers In 2023?
The Rise of ‘Hyperscalers’ And Smaller Companies
Feinseth’s investment portfolio includes what he terms “hyperscalers” such as Amazon.com Inc, Alphabet Inc, and Microsoft Corp. These companies are equipped to meet surging demand, which is crucial in the era of AI adoption.
He also favors smaller-cap entities like MongoDB, Monday.Com, and C3.ai, all of which have recently entered the market and are poised to benefit from the AI revolution.
Feinseth also addresses the fear of job displacement due to AI, emphasizing that AI will augment human creativity and productivity rather than replace it. His stance reflects a positive outlook on the overall impact of AI on the workforce.
Intel’s Growth Fueled By Foundry Investment
Another key player in Feinseth’s investment strategy is Intel Corp, which he sees as having significant long-term growth potential. Intel’s substantial $20 billion investment in new foundries is especially noteworthy, given the global trend of companies seeking alternatives to China-based operations.
Feinseth points out that Intel’s strategic move has attracted interest from prominent technology giants like Apple Inc and Nvidia Corp, indicating the potential for collaboration and growth in the semiconductor industry.
Now Read: Short Sellers’ Nightmare: $195B Evaporates In 2023’s Market Surge
Photo IvanFeinseth/TigressFinancialPartners Geralt/Pixabay
